Biden apparently nominates economist Raskin as vice chair of the Fed board

The economist could become the vice chair of the Fed board.  Source: Reuters
Sarah Bloom Raskin

The economist could become the vice chair of the Fed board.

(Photo: Reuters)

Washington US President Joe Biden has apparently appointed former Federal Reserve Chair and economist Sarah Bloom Raskin as vice chair of the Fed Board, and nominated economists Lisa Cook and Philip Jefferson for the board. As a person familiar with the matter said on Thursday (local time), the US President’s Office has already sent the nominations to the Senate.

“President Biden has nominated a reputable, qualified and bipartisan group of five candidates for the Federal Reserve Board of Directors who, together, will bring an extraordinary level of skill, experience and expertise to the Federal Reserve,” the insider said. The appointments would fill out the ranks of the seven-member board and make the Fed’s leadership more diverse than at any time in its 108-year history.

More: The US economy is recovering from Corona, the stock markets are in a record mood. And yet, in the year of the important congressional elections, Joe Biden is more vulnerable than ever.

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